PGGM Investments Makes New $18.01 Million Investment in Core & Main, Inc. $CNM

PGGM Investments purchased a new position in shares of Core & Main, Inc. (NYSE:CNM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 298,500 shares of the company’s stock, valued at approximately $18,014,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after acquiring an additional 532 shares during the last quarter. Bfsg LLC increased its stake in Core & Main by 56.4% during the second quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the last quarter. Rossby Financial LCC acquired a new stake in Core & Main during the first quarter worth about $37,000. Finally, CWM LLC increased its stake in Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after acquiring an additional 213 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Trading Up 0.4%

Shares of CNM opened at $53.85 on Wednesday. The company has a market capitalization of $10.63 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.10 and a beta of 1.04. Core & Main, Inc. has a one year low of $41.60 and a one year high of $67.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.30 and a current ratio of 2.25. The stock has a 50-day moving average price of $60.22 and a 200 day moving average price of $56.30.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.Core & Main’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Core & Main

In related news, Director Orvin T. Kimbrough sold 23,962 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $61.77, for a total value of $1,480,132.74. Following the completion of the transaction, the director owned 13,958 shares of the company’s stock, valued at approximately $862,185.66. This represents a 63.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total value of $322,550.00. Following the completion of the transaction, the chief financial officer directly owned 8,555 shares of the company’s stock, valued at $551,883.05. This represents a 36.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 397,956 shares of company stock valued at $24,830,991 in the last three months. 3.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CNM has been the subject of several research analyst reports. UBS Group initiated coverage on Core & Main in a research note on Monday. They set a “buy” rating and a $65.00 price target for the company. Royal Bank Of Canada decreased their target price on Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, September 10th. Truist Financial lowered their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, September 11th. Loop Capital reiterated a “hold” rating and issued a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Finally, Barclays lowered their target price on Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, September 10th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.09.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.